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The shareholders of Everi Holdings have approved the $6.3bn acquisition and merger transaction proposed by private equity fund Apollo Global Management.
Everi reported that around 99.88% of the voted shares approved the deal – representing around 71.48% of the total outstanding shares of Everi common stock as of the date of the Special Meeting.
Michael Rumbolz, Chairman of the Company’s Board of Directors, said: “We are pleased that our stockholders supported our transaction with the Apollo Funds. We now shift our focus to the important next steps toward completing the transaction and maximising value for Everi stockholders.”
Earlier this year, Apollo moved in to secure a $6.3bn deal ahead of Everi’s planned merger with the Global Gaming and PlayDigital units of International Game Technology PLC (IGT), which IGT agreed to give away in order to create a standalone lottery business.
IGT will separate its IGT Gaming business which will then immediately combine with Everi, becoming two privately owned companies part of the same joint enterprise under Apollo’s commercial structure.
This week IGT published its Q3 accounts, which saw the NYSE technology group revise its auditing structures to report on lotteries as its standalone business.
Under the acquisition terms, Everi shareholders will receive $14.25 per share in cash, while IGT will be awarded with $4.05bn in gross cash for both of its Global Gaming and PlayDigital units.
A Form 8-K will be filed by Everi with the US Securities and Exchange Commission (SEC) to set forth the final voting results on the proposal. If the required conditions are cleared in time, the transaction is expected to close by the end of Q3 2025.
